Patel takes over as Fidelis CFO
Fidelis Insurance has announced that it has started up a new venture with industry veteran Rob Ashton , who has been appointed specialty reinsurance underwriter at the as-yet unnamed venture.
The new venture, which will begin underwriting on 01 January 2018, will focus on niche specialty excess of loss business; particularly the high growth Cyber Reinsurance market. Fidelis will provide the working capital and the cornerstone capacity to the venture.
According to Fidelis, Ashton has an excellent track record for providing innovative reinsurance solutions in niche markets. He will underwrite on Fidelis’ account while the new venture is being finalised. Prior to this he served for over four years as head of specialty at Hiscox Re Specialty.
“This is an exciting new chapter in my career,” said Ashton. “Partnering with Fidelis has been a refreshing experience. They have been very receptive to my ideas and we both share the same vision which will enable us to build truly dynamic and profitable business.”
Richard Brindle, group CEO of Fidelis Insurance said: “The creation of this venture signals the beginning of our strategy to identify and attract specialist underwriting talent with innovative and closely defined products. Our unique market vision and entrepreneurial pedigree will mean that we will be a high value destination for these underwriters.”
Fidelis Insurance, Appointment, Rob Ashton, Reinsurance, Bermuda